ADALAIDE, Australia–Credit Union SA here reported it has hit the $1 billion assets threshold.
Credit Union SA CEO Grant Strawbridge said the milestone shows the appeal of the member--owned approach to banking and was the culmination of initiatives put in place to grow member numbers and position the local financial services provider as an attractive banking option for South Australians.
“Since it was first established nearly 60 years ago, Credit Union SA has grown to become a proud and trusted South Australian organization that is owned by its nearly 50,000 members who we help to do more with their money through our range of banking products and services,” Strawbridge said. “As an employer of more than 150 South Australian’s, Credit Union SA continues to be a significant contributor to the local economy and we are proud of our standing within the South Australian business community - and to reach more than $1 billion in assets reflects our role and responsibility in the development of our state.”
The credit union has 49,000 members.